In his Man, Economy, and State, Murray N. Rothbard investigates not only the role of the capitalist but also that of the entrepreneur in a market economy. Rothbard uses the theoretical concept of the evenly rotating economy (ERE) to compare the role of the capitalist to that of the entrepreneur. Entrepreneurs earn profits in so far as they successfully correct the maladjustments in the real economy and move it closer to the ERE without ever attaining that state.

The ongoing coronavirus pandemic has halted economies across the globe. With various countries on lockdown and companies unable to continue production, an economic downturn is inevitable. In light of this, the government of Denmark has come up with a strategy to avoid recession—paying 75 percent of private employees’ salaries.

One of my fondest books as a child was Doctor at Timberline, by Charles Fox Gardiner. Gardiner was a doctor early in the settlement of western Colorado in the nineteenth century. Each chapter of the book is a self-contained story of his experiences tending to the ailments of mostly men in mining towns, ranches, and lonely cabins high in the Rockies.

So far in March, the data indicates that the yearly growth rate of our measure for US money supply (as measured by the AMS metric) stood at 10.5 percent against 6.6 percent in February and 1.7 percent in March last year.

Given that the Fed is busy throwing money at the economy as if there were no tomorrow, it is tempting to suggest that the momentum of the AMS is likely to increase further and that consequently runaway inflation could emerge in no time.

African governments have joined the global lockdown bandwagon as they press for an urgent halt to the spread of the COVID-19 pandemic.

More and more voices are questioning the rationale for the general lockdown imposed in most of Europe and the US in response to the coronavirus epidemic. Such unprecedented suppression of civil and economic liberties during peace continue to strike many as hardly justified. Whether from a legal, ethical, or economic standpoint, we may soon find that the cost of the policy reaction was immense and grave.

Some remarks in Ludwig von Mises’s Socialism shed light on a puzzling passage in Human Action. The passage is puzzling because it goes counter to what one would expect Mises to say. Mises, although not an anarchist, was an extremely strict classical liberal. No reader of his Liberalism can doubt his full commitment to liberty.

Mexico’s president Andrés Manuel López Obrador has been reluctant to impose mandatory “social distancing” orders on the Mexican population. According to USNews, López Obrador “has maintained a relaxed public attitude” toward COVID-19, and the Mexican government did not impose a ban on “nonessential” work until March 30, long after health officials in other countries insisted Mexico must do so.